Monday, August 10, 2020
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Penta Real Estate sells Bratislava development project

Penta Real Estate has successfully completed the sale of Bory Business Park project to the Karimpol Group development company. The land with a total area of 60,000 sqm is located in the new Bory district in Bratislava and was sold together with a building permit. The project allows the construction of retail space with the possibility of combining showrooms, offices and storage. Both parties have agreed that the transaction value will not be disclosed.

“Since our long-term strategy is to focus mainly on the residential and office market, we have decided to sell the plot land intended for this type of project. We are very pleased to conclude this cooperation with a foreign investor who is planning to build commercial spaces combined with showrooms, offices and storage in this location. The Bory district will thus receive other interesting amenities,” said Juraj Nevolník,  Managing Director at Penta Real Estate Slovakia.

“The acquisition of Bory Business Park represents a unique opportunity for our company to strengthen our presence in the market which we consider to be particularly promising even in today’s situation. Also, the development level of the newly emerging Bory district was a significant driver in our decision-making, and I also believe that with our planned Squarebizz Business Park Bory focusing on small and medium-sized companies we will contribute to the attractiveness of this location,” said Dr. Edik T. Plätzer, Managing Partner at Karimpol Slovakia.

In the new city district Bory, there is already a shopping and entertainment centre – Bory Mall – and several other large retail buildings. Bory district will also include a New Generation Hospital, built by Penta Real Estate, which will be capable to provide healthcare for patients from all over Bratislava. Bory also includes a residential district – Bory Bývanie, which will bring more than 1000 residential units, in its first four phases. Overall, a new modern city district with all the civic amenities, including a kindergarten is emerging. The transport infrastructure is already completely built including a connection to the D2 highway.

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